Previous Post
Next Post

Written by

  • Jonathan Plotkin

    You should check out the Chicago based firm Scion which is one of the nations largest owners and developers of student housing. Unlike the model that most of us are familiar with (I have my 4th and last in college at the moment) Scion introduced a model whereby ALL their units are furnished and are not leased as apartments but as “beds”. While there are still parent guarantees in play the units don’t suffer the wear from constant move outs and the units themselves have much more flexibility when it comes to subleasing. All in all a great concept. I recently invested in two large projects of theirs in Texas. For a parent to have to pay for a 12 month lease when the kid at best is present on campy 8 months is a huge drain on resources. As for a “investment” the jury is still out however Scion’s track record is admirable. I propose you do a follow up story at some point after speaking with one of the founders of the company Rob Bronstein. Rbronstein@thesciongroup.com

    • Anonymous

      Jonathan,
      Wow great info and comment. I will follow up. Thanks!

    • Anonymous

      Jonathan,
      Wow great info and comment. I will follow up. Thanks!

    • Johnf

      Good catch Jonathan – Student housing has been changing. The “strip” in downtown Chicago is a good example. The competitiveness for students is fierce.

  • Jonathan Plotkin

    You should check out the Chicago based firm Scion which is one of the nations largest owners and developers of student housing. Unlike the model that most of us are familiar with (I have my 4th and last in college at the moment) Scion introduced a model whereby ALL their units are furnished and are not leased as apartments but as “beds”. While there are still parent guarantees in play the units don’t suffer the wear from constant move outs and the units themselves have much more flexibility when it comes to subleasing. All in all a great concept. I recently invested in two large projects of theirs in Texas. For a parent to have to pay for a 12 month lease when the kid at best is present on campy 8 months is a huge drain on resources. As for a “investment” the jury is still out however Scion’s track record is admirable. I propose you do a follow up story at some point after speaking with one of the founders of the company Rob Bronstein. Rbronstein@thesciongroup.com

  • Student housing seems to be a good investment. I went to Purdue and I know that there was always an issue finding housing. So it’s a supply and demand that is in favor or the Landlord. Great post Duke. I enjoy your blog very much.

    Travis

  • MONTANA MITCHELL

    Yes, YES, YES!!!!! CAPTIVE RENTERS AND IN A RECESSION EVERYONE IS RUNNING TO THE CAMPUS TO BE RETRAINED…….

  • Steve Caton

    glad you picked my university Purdue! Ironically, the project you were reporting from that is a mixed use of student housing and commercial, struggled for years

    • Dukelong

      I know the family the owns the project and they have never struggled. Played golf with one of the main principles 1000 times(no exaggeration) Had an offer to purchase on the table….they turned it down…no need to sell..ever?